midtermpg2 - Student Gradebook Exam Page 1 of 3 Grade...

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Grade Details Page: 1 2 1. Question : (TCO A) Operational review procedures embrace the concept of conducting operations for economy, efficiency, and effectiveness. Provide a brief description of the EFFECTIVENESS aspect, and provide an example. Student Answer: Effectiveness is related to the results of operations. It seeks to determine whether results and accomplishments have been achieved and whether the benefits have been provided. It also seeks to determine whether the activity is achieving its ultimate intended purpose and is that purpose is the right one. For example, measuring the effectiveness of the organizational planning system as to its development of realistic goals, objectives, and detail plans. Instructor Explanation: Effectiveness refers to the results of operations. This speaks to the ability of the organization to achieve its goals and objectives based on measurable criteria and standards. The review must consider the reasonableness of the company’s goals and objectives, selected metrics, and the performance against those metrics when determining effectiveness. If these are out of synch, the reviewer can assist management in establishing reasonable goals and objectives, setting reasonable stretch objectives, and identifying appropriate measures and standards. Points Received: 10 of 10 Comments: 2. Question : (TCO F) The 2010 Report to the Nations on Occupational Fraud and Abuse covered a number of factors that are related to occupational fraud. List and explain at least three of these factors. Student Answer: Three factors related to occupational fraud are asset misappropriation, corruptions, and fraudulent statements. Per Wells, asset misappropriation involve theft or misuse of an
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This note was uploaded on 02/11/2012 for the course AC 562 AC 562 taught by Professor Online during the Spring '11 term at Keller Graduate School of Management.

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midtermpg2 - Student Gradebook Exam Page 1 of 3 Grade...

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